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PayDay, The Better Borrowing Option

What loan amount would you like?

$800

Want to know how many repayments?

1
1 to 3 repayments
Paid weekly
1 to 3 repayments
Paid bi-weekly or twice a month
1 to 2 repayments
Paid monthly
The system will automatically provide the number of repayments based on your pay frequency (range between 42 to 62 days).
In Manitoba, only a single repayment option is available. A loan taken out with us in Manitoba must be fully repaid at the next pay date.

Tell us what province you live in.

APPLY NOW FOR FAST APPROVAL

Forget the traditional payday loan:

We’ve got the better option


Everyone’s had occasion to take out a loan. So, we all know that often some assistance and guidance can be important to getting things back on the rails financially. PayDay has just what the doctor ordered: loans, customized to your needs, ready to go, when you need them.

01

No Fuss

We’ve got a secret weapon that helps us provide you this great service. Our cutting-edge algorithm technology ensures your application process is dealt with in just minutes. It’s a paperless system, no documentation required, and the whole business, from application to approval to funds deposited right in your bank account can be done in a single day.

Low interest fees

We follow the provincial regulations on interest rates. Here too though we offer you a great benefit: the option to repay in multiple installments. This decreases the interest on each installment. That’s the kind of flexibility that will get you out of debt fast.

02
03

Flexibility

People’s needs vary in matters of financial assistance. At PayDay we understand that. That’s why we offer different loan solutions and repayment options. That choice allows you to tailor your loan to your specific needs and circumstances.



No Credit Check | High Approvals

Get Up To $1500 From a Safe Trusted Licensed Lender. Easy Application. Multiple repayments, FAST e-Transfer.

APPLY NOW FOR INSTANT APPROVAL

What makes us special?

The hassle-free loan option

Instant

It takes only minutes to apply through our secure online system and no need to provide documents! Once approved, regardless of the time or day, all you have to do is sign your electronic contract and your funds will be e-transferred to your bank account in 5 minutes.

Easy

No paperwork headaches to make your life miserable. Turn off the fax machine and get comfortable on the couch. This process is as convenient as it gets.

Fast

You’ll know instantly when you’re approved for your loan and what repayment schedule of 1, 2 or 3 installments best suits your needs.

Extra

Need a few extra days? No problem. We’ll add 5 extra days before starting your repayment. That’s 5 extra days to pay us back with no extra fee to you.

Transparent

Our lending process has no hidden fees. What you see is what you get. That’s our promise as fully compliant licensed lenders under provincial law and regulation.

Flexibility

Your interest fee is unchanged, whether it’s better for you to pay in 1, 2 or 3 equal repayments.

Same Day Cash Loans

Whether it's a car repair, doctors' bills, ODSP Payday Loans, or tuition fees, everyone needs a little help from time to time. A quick cash loan from PayDay gives you easy access to the funds you need.

We want to make online loans as hassle-free as possible. Check out our Education Center to get all the details you need, from budgeting tips to financial term definitions.
If you are having a hard time figuring out how much money you need, try using our simple budget loan calculator !


To learn more about how we differenciate ourselves from other lenders, go see our comparison chart.

How to be Eligible for a Loan

To qualify for a fast online loan from PayDay, you must:

  • Be at least 19 years old.
  • Be a Canadian citizen and a resident of British Columbia, Alberta, New Brunswick, Saskatchewan, Ontario, Nova Scotia or Manitoba.
  • Be employed with the same employer for the past 3 months.
  • Have a Net income of at least $800/month.
  • Receive your pay by direct deposit.
  • Have a Canadian bank account that is open for at least 3 months.
  • Have a valid phone number, address, and email address.
  • Not have filed in the past or have the intention to file bankruptcy.

Interest Fees and Transparency

The cost of borrowing is calculated as a percentage of the amount borrowed and range between $15 to $23 according to the payday loan legislation of each province:

Province Interest Fees & Transparency Late fee
Alberta $15 per $100 $25
British-Columbia $15 per $100 $20
Manitoba $17 per $100 $20
New Brunswick $15 per $100 $20
Nova-Scotia $22 per $100 $40
Ontario $15 per $100 $48
Saskatchewan $23 per $100 $50

When you take a cash advance loan or Flexpay loan with PayDay, you are always in complete control of how much money you will owe and there are no surprises nor hidden fees. Before signing your loan agreement, we will give you a breakdown of all the costs involved in your loan so you will be able to make an informed decision.

Getting Your Money

There is nothing easier than getting your money. After electronically signing your contract, you will receive your funds by e-transfer in the next 5 minutes. We send e-transfers 7 days a week, 24 hours a day. At PayDay, we want to ease our clients’ lives since we know that you have more important things to care about. Therefore our services are fast, convenient and hassle-free.

Managing Your Loan

Can I make repayments early?

Yes, it is possible to repay early, and we encourage you to do it if you are able to! There are also no charges for early repayments. Repaying early is a great choice because:

  • There are no extra fees
  • You can improve your trust rating with PayDay

Can I increase my loan amount after I get my cash?

As responsible lenders, we only let our customers take out one loan at a time. That's why it's important when you apply for a loan to consider your finances and to choose the loan amount and repayment options that are right for you.

Repaying Your Loan

What happens on my repayment date ?

In order to make the repayment process as straightforward as possible for you, we will automatically debit your bank account on the due date for the amounts specified in the contract. On your repayment date, please make sure you have enough money available in your bank account for the payment in order to avoid any additional fees.

Repayment Plans

We have two repayment plans you can choose from in order to find one that suits you best.

  • Cash advance: make a repayment between 7-62 days after you are approved
  • Flexpay: make 2 or 3 repayments between 7-62 days after you are approved

Repeat Borrowing

Trust Rating System

When you apply for your first cash advance loan or Flexpay loan with PayDay, you can apply for up to $750. If you pay back your first loan on time and according to the terms and conditions of your loan, you will gradually be eligible to borrow up to $1,500.

A cash advance loan or Flexpay loan is considered as a short-term loan and is not intended for frequent use. If another situation arises and you do need to borrow money from us again, the loan application process will be quicker than the first time. Since most of your information are saved in your PayDay account, you can simply log in, confirm the existing information, and apply. It's that simple!

As part of our commitment to responsible lending, we may at time make adjustments to ensure that each personal loan we give is in the best interest of our customer's financial health. We consider each application we receive on an individual basis, so repeat borrowers are not guaranteed approval because they have borrowed from us before.

Late Fees

You can avoid any non-sufficient fund fees by making payments on time and ensuring that money is available for pre-authorized debits in your account on the due dates. NSF fees are broken down as follows, depending on each of the following Canadian provinces: British Columbia, Alberta, New Brunswick, Saskatchewan, Ontario, Nova Scotia and Manitoba.

Province NSF
Alberta $25
British-Columbia $20
Manitoba $20
New Brunswick $20
Nova-Scotia $40
Ontario $48
Saskatchewan $50

Collections

PayDay's lending process is fully transparent so you can clearly understand your repayment responsibilities. Depending on your pay period this daily fee may change. Your total amount to be repaid is the loan amount plus the interest fee, no additional fees will be charged to you.

The only way that your repayment amount would increase is if you do not comply with your loan repayment agreement. You must make sure that your bank account has enough funds to cover the preauthorized debit on the date you agreed to make a loan payment. If your bank account has insufficient funds at the time of the preauthorized debit, you will be charged a missed payment fee, and your bank may also charge you a non-sufficient funds fee. From there on, collection interests will be applied to the remaining balance of your loan until it is fully repaid.

From that point on, your file will be passed on to our professional collections team who will do their best to come to an agreement with you. Unfortunately, if you do not work with us to repay your loan in the agreed-upon time frame, PayDay will have no other choice but to pass on your file to an external collection agency.

The transfer of your file to an external collection agency may also generate additional fees for you, it can lead your credit file to a negative note and could damage your file for six years. Your credit file information can be passed on to other organizations by credit agencies and fraud protection agencies for verification purposes or to track your whereabouts in order to recover the sums owed.

This is why we reiterate that it is extremely important to respect your commitments with us. PayDay is a company with a human side and we understand that difficult situations may happen. If this is the case, please contact us as soon as you can so we can find an arrangement that can reduce costs for you and that will allow you to meet your commitments. However, PayDay strongly recommends that you think seriously before applying for a loan. If you have any doubts about your capacity to reimburse this loan according to the established terms, we recommend you to find another source of financing.